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2022-03-11 Meeting notes

Owned by Paul Barry, created
Mar 11, 2022
3 min read

 

Public Page

 

Date

Mar 11, 2022

ANTITRUST STATEMENT

As participants in this meeting, we need to be mindful of the constraints of antitrust laws. There shall be no discussions of agreements or concerted actions that may restrain competition. This prohibition includes the exchange of information concerning individual prices, rates, coverages, market practices, claims settlement practices, or any other competitive aspect of an individual company’s operation. Each participant is obligated to speak up immediately for the purpose of preventing any discussion falling outside these bounds.

Agenda

  • Antitrust / Minutes Approval

  • Credit Card Limit

  • Financials Update

  • CONNEX Conference Pricing

  • Financial Review in 2022?

  • Insurance Policy Review

Meeting Minutes

  • Credit Card Limits: Paul shared the challenges we have had with a $5000 limit. Treasurer Ashley Denison has authorized a request to increase our limits to $10,000 which is what we had at Heartland Bank. BofA has requested a meeting with Paul to meet with a credit analyst next week.

  • Financial Update: Paul shared the current financials through Zoho Books. The revenue that was deferred in December has come through as expected. Total bank balances for 2022 are consistent with 2021 numbers.

  • CONNEX Conference Pricing: Paul shared a pricing analysis for the CONNEX Conference. We need to collect $375 per person. We will offer an early-bird ticket for $375. With respect to Sponsorship, we will offer a Silver and Gold sponsorships. The Gold sponsorship will include a skirted table or space for a small booth. We have no idea if there will be interest in gold sponsorships, but this is a good opportunity to test the market. We have charged $2000 for a sponsorship for several years. The committee agreed to increase the price to $2500 for a Silver and $3500 for a Gold.

  • Financial Review: We retained an auditing firm in 2021 to do a financial review of 2020 financials. The review was complete by Von Lehman firm with no significant findings of concern.

    • The question is if we plan to review 2021 financials in 2022.

    • Financial Review Process:

      • As part of the Bylaws review process we identified the need for an annual audit to be conducted by an independent certified public accountant.

      • There were several discussions in mid 2021 when the plan to do a financial review was proposed. The Finance and Executive committees agreed to use an external firm in 2021 since it had been some time since financials had been reviewed.

      • Ultimately the decision was made to use an external CPA firm each year and this was included in the Bylaws revision approved in Jan 2022.

    • VonLehman Associates

      • VonLehman was retained to conduct the 2021 review and quoted an estimate of $3500-$4500 to do the audit.

      • As of this writing we have not yet received an invoice from VonLehman for their services. Once we do we can assess their performance.

  • Insurance Policy Review: Paul is in discussions with the brokerage and will schedule a meeting with the agent to do a review. Ideally, we can identify an additional board member who has familiarity with O&D policies and coverages.

Action items

Review VonLehman invoice when received. Compare to estimate of $3500-$4500.

Decisions

 

Participants

  • @Paul Barry @Mike Marlowe @Ashley.Denison Jeff Dietrich @Phil Martinez @Greg Best

 

 

 

Participants in the meetings are noted for your information.  If you have questions on the committee’s activities, please contact a recent attendee.